Mixed bag for housing

March home sales in L.A. County jumped almost 40 percent from the previous month, according to Dataquick, but fell 2.3 percent from a year earlier (February-to-March normally sees a sizable increase in sales). The median price of $320,000 was up only 1.5 percent from February and down 2.7 percent from March 2010. Dataquick says the market seems a little less dysfunctional than it's been in recent months, although real improvement won't happen until the job situation improves and foreclosures can be reined in - neither of which is likely to happen for a while. We are, of course, entering the normally busy spring buying season. From press release:

Indicators of market distress continue to move in different directions. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last two years. Financing with multiple mortgages is very low, and down payment sizes are stable.

MARCH HOME SALES (% change from March 2010)
Los Angeles 6,590 -2.3%
Orange 2,615 -1.4%
Riverside 3,843 -7.5%
San Bernardino 2,544 -13.9%
Ventura 757 +2.4%

MARCH MEDIAN PRICE (% change from March 2010)
Los Angeles $320,000 -2.7%
Orange $430,000 -0.5%
Riverside $198,000 -0.0%
San Bernardino $150,000 -1.3%
Ventura $349,000 -6.9%

Source: DataQuick Information Systems, DQNews.com